(JUNEAU, Alaska) - An oil discovery on the North Slope is a "potential game-changer" if it turns out to be as big as geologists think.
The Alaska Dispatch reports that Denver-based Armstrong Oil & Gas, in partnership with Spanish Oil company Repsol, is developing a prospect along the Colville River that could produce 120-thousand barrels per day.
The oil is contained within the same Nanushuk sandstone formation that underlies much of the North Slope, but layers of shale trap the oil into reservoirs.
Production could take up to five years. The project is now under review by the Army Corps of Engineers.